International - Financial Times - Credit Squeeze

US president expands trade war to film industry in pledge to prevent ‘death of Hollywood’

Merz takes over as German chancellor, Vatican conclave begins and Skype waves goodbye

Dubai-based family office plans financial zone for the Indian Ocean archipelago

President faces backlash after warning Americans they will have to make do with fewer toys at Christmas

Market Questions is the FT’s guide to the week ahead

Trump’s damage to America’s growth rate will be mostly reversible

State-backed group accelerates investment plans as it deepens collaboration over the technology

Brussels revives plan to forge strategic partnership with CPTPP to defend rules-based global system

As smuggling becomes a lifeline, criminal organisations across the globe will benefit

Rally in Wall Street’s S&P 500 share index comes after labour data shows 177,000 jobs were added in April

First foreign trip for prime minister since this week’s election will focus on ‘trade pressures’

China says it is ‘evaluating’ recent overtures from Washington about starting tariff discussions

April figure also shows rise in core metric, as region prepare for impact of Trump’s tariffs

Finance minister Katsunobu Kato hints that country’s more than $1tn in Treasuries gives it leverage in negotiations

Ecommerce company to source all US products from local merchants as ‘de minimis’ tax loophole closed

A conversation with the former US Treasury secretary on the outlook for clean energy growth

Also in today’s newsletter, Tim Cook warns of tariff costs to Apple, and Reform wins historic UK election victory

Chief executive Bill Winters says bank remains ‘watchful’ on impact of US tariffs

Warning of ‘snowball effect’ from higher borrowing as governments come under pressure to improve public finances

US president’s decision to trigger global trade war looks certain to have a lasting impact on the financial system